Ambani brothers’ four SEZs among 36 cleared by BoA

Ambani brothers’ four SEZs among 36 cleared by BoA
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First Published: Fri, Jun 22 2007. 07 35 PM IST
Updated: Fri, Jun 22 2007. 07 35 PM IST
New Delhi: The government panel on Special Economic Zones on 22 June cleared three zones promoted by Reliance Industries’ chairman Mukesh Ambani and his aide Anand Jain, while giving formal approval to 36 SEZ proposals.
The Board of Approval, which met here to consider 52 proposals, also cleared Anil Ambani Group Reliance Infocom’s 18-hectare IT SEZ at Dhirubhai Ambani Knowledge City in Maharashtra.
It gave in-principle approval to nine other proposals.
Mukesh Ambani and Anand Jain promoted Navi Mumbai SEZ Pvt Ltd proposes to set up three zones covering an area of 345 hectare. Around 63.74 hectare will be occupied by a biotechnology zone, 179 hectare by a light engineering SEZ and 103.25 hectare by a pharmaceutical project.
The consortium also plans a 1,250-hectare multi-product SEZ in the area which is awaiting clearance from BoA. The Revenue Department has raised some issues regarding the project on which state government and promoters’ comments have been received.
“These have been circulated among the members of the BoA for consideration. The proposal would be taken up at the next meeting of the Board on 12 July,” BoA chairman and commerce secretary G K Pillai said.
The BoA also approved an electronic hardware SEZ promoted by Foxconn. The hardware supplier to companies like Nokia and Motorola got the nod for a 11-hectare SEZ in Sriperumbudur in Tamil Nadu, which it will eventually expand to 136 hectares.
The company already has an SEZ in the country and plans to invest $400 million in the new facility. In all Foxconn wants to invest $1.5 billion in India.
The Board also approved a 235-hectare SEZ in the textiles sector. Promoted by Sri Lanka-based multinational MAS Fabric Park, the zone in Andhra Pradesh involves a total investment of Rs880 crore. Overall the company has plans to invest $700 million that will create 30,000 jobs.
The BoA also approved two SEZs in Dadra and Nagar Haveli, the first ones for the union territory. A proposal by Ramky Infrastructure to set up a 1,012-hectare multi-product SEZ in West Bengal was given an in-principle clearance.
“This is the first multi-product SEZ that has been cleared for West Bengal. Now barring Bihar and the north-east, SEZs have been approved in all states. Bihar and northeast have been left out as no application has been received from those states,” Pillai said.
Of the seven cases deferred, two proposals for multi-product SEZs came from Skil Infrastructure. The clearance could not be given as they did not meet networth requirement.
The company said it has got a $500-million investment from a US company that has taken 26% stake. As the FIPB approval for the transaction is yet to come, Board deferred the two cases.
So far, 339 SEZs have formal approval of which 126 have been notified. In all, Rs35,145 crore has been invested in these zones, which have created 32,578 direct jobs.
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First Published: Fri, Jun 22 2007. 07 35 PM IST